Least-trusted banks

Here's the bottom seven, according to a report from Forrester Research.

--Bank of America
--Capital One
--Fifth Third

The report ranks financial services firms by the percentage of customers who agree with the statement: "My financial provider does what's best for me, not just its own bottom line." Among B of A customers, 33 percent agreed, while at HSBC only 16 percent agreed. Wells Fargo/Wachovia did pretty well, with 40 percent. From the NYT:

Why the poor rankings for the big banks? "Part of it is that the banks are preoccupied with their bottom line. They are public institutions who are in business to make money for their shareholder and inevitably, that shows to customers," [said Forrester vice president, Bill Doyle].

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
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